Economists at ANZ Bank analyze Gold (XAU/USD) outlook.
Price dip presents a buying opportunity to build fresh long positions
Strong labour data suggests the Fed needs to tightening monetary policy more to bring inflation into its target range. While this remains a short-term headwind for Gold, other factors are supportive.
The recent price dip presents a buying opportunity to build fresh long positions.
We target $2,100 by the end of 2023.
See – Gold Price Forecast: Prospect of rising rates to weigh on XAU/USD until FOMC meeting – Commerzbank
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